MORRIS PLAINS, N.J., July 24, 2009 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (Nasdaq:IMMU), a biopharmaceutical company focused on developing monoclonal antibodies to treat cancer and other serious diseases, today announced that it has entered into a partnership and cross-licensing agreement with Alexis Biotech Ltd., London, England, to jointly develop targeted vaccines against cancers that include melanoma and chronic lymphocytic leukemia, and infectious diseases, such as AIDS. The development will combine Immunomedics' and its majority-owned subsidiary, IBC Pharmaceuticals, Inc.'s proprietary Dock-and-Lock conjugation technology (DNL) with the proprietary HLA-antibody targeting technology from Alexis Biotech. Terms of the agreement were not disclosed, but both companies will share in the development costs and Immunomedics will have first worldwide commercialization rights to products derived from the partnership.
